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233 Argonne Ave

Long Beach, CA 90803
  • $1,450,000
  • STATUS: Active
  • ON SITE: 54 Days
  • MLS #: 21-778190
UPDATED: 193 min ago
$1,450,000
  • 4
    BEDS
  • 0.07
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,329
    SQFT
  • $623
    $/SQFT
Type:
Multi-Family
Built:
1964
County:

School Ratings & Info

Description

4 Unit located within highly desirable Belmont Shore, Long Beach. Being within walking distance to the beach and popular 2nd Street, as well as supplying convenient garages for each unit and onsite coin laundry, tenant selection and retention are a breeze. While its mid-century modern architecture, with clean lines and simplicity, present classic modernity in natural for, its renovated interiors and exterior make it the pride of ownership. Listed for a modest $362,500 per unit, the over $100,000 in renovations was well spent. Consisting of all one bedroom and one bathroom units, three of the units display beautiful and durable granite countertops, as well as new cabinets, floors, and paint. The fourth unit has new floors and has recently been painted. Units are separately metered for gas and electricity and rents have not been raised within the last 12 months, allowing for a substantial upside in returns up to a 3.28 Cap Rate with only one increase.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-23T23:42:36.413. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.desertarealuxuryhomes.com/homes/120949410
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233 Argonne Ave Long Beach, CA 90803

  • Price: $1,450,000
  • Status: Active
  • Updated: 193 min ago
  • MLS #: 21-778190
4
Beds
0
Baths
0
½ Baths
0.07
Acres
2,329
SQFT
$623
$/SQFT
1964
Built
Neighborhood:
Belmont Shore, Belmont Park, Naples
County:
Los Angeles
Area:
Belmont Shore, Belmont Park, Naples
Property Description
4 Unit located within highly desirable Belmont Shore, Long Beach. Being within walking distance to the beach and popular 2nd Street, as well as supplying convenient garages for each unit and onsite coin laundry, tenant selection and retention are a breeze. While its mid-century modern architecture, with clean lines and simplicity, present classic modernity in natural for, its renovated interiors and exterior make it the pride of ownership. Listed for a modest $362,500 per unit, the over $100,000 in renovations was well spent. Consisting of all one bedroom and one bathroom units, three of the units display beautiful and durable granite countertops, as well as new cabinets, floors, and paint. The fourth unit has new floors and has recently been painted. Units are separately metered for gas and electricity and rents have not been raised within the last 12 months, allowing for a substantial upside in returns up to a 3.28 Cap Rate with only one increase.
Exterior Features

Lot Size Area 3058 Other Structures None Parking Garage GaragePrivate Paved YN Yes Roof FlatRolled/Hot Mop Style Mid-Century Total Parking 4

Interior Features

Bathroom Features Remodeled Baths Total 4.00 Common Walls Attached Cooling None Equipment WasherDryer Heating Wall Kitchen Features Granite CountersRemodeled Laundry CommunityRoom

Property Features

Alley YN Yes Gross Income 71640 Gross Operating Income 69491 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Net Operating Income 42388.00 Number Of Buildings 1 Number Of Units 4 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays GasElectricity Total Annual Expense 27102 Type Of Units Income Year Built Source Vendor Enhanced Zoning Lbr2s

Listing provided courtesy of John Mccann DRE#01963932 of Lyon Stahl Investment Real Estate, Inc..


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-23T23:42:36.413. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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